Hanmi Financial Corp (NASDAQ:HAFC) declared a quarterly dividend on Thursday, July 30th, Wall Street Journal reports. Investors of record on Monday, August 10th will be given a dividend of 0.08 per share by the bank on Monday, August 31st. This represents a $0.32 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, August 7th.
Hanmi Financial has raised its dividend payment by an average of 45.5% annually over the last three years and has increased its dividend every year for the last 5 years. Hanmi Financial has a payout ratio of 64.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Hanmi Financial to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 48.0%.
HAFC stock opened at $9.23 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.03. The company has a fifty day moving average price of $9.35 and a two-hundred day moving average price of $12.09. Hanmi Financial has a one year low of $7.15 and a one year high of $21.93. The stock has a market cap of $282.62 million, a price-to-earnings ratio of 10.49 and a beta of 1.32.
HAFC has been the subject of a number of research analyst reports. BidaskClub cut shares of Hanmi Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. Zacks Investment Research raised shares of Hanmi Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.50.
In other news, Director John J. Ahn bought 5,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $7.78 per share, with a total value of $38,900.00. Following the completion of the acquisition, the director now owns 26,862 shares of the company’s stock, valued at $208,986.36. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bonita Lee bought 4,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $7.80 per share, with a total value of $31,200.00. Following the acquisition, the chief executive officer now directly owns 59,021 shares of the company’s stock, valued at approximately $460,363.80. The disclosure for this purchase can be found here. Insiders have bought 10,000 shares of company stock valued at $77,710 in the last three months. Insiders own 2.90% of the company’s stock.
About Hanmi Financial
Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.
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